Alliance Aviation Services drops as regulator flags concerns over Qantas deal

Alliance Aviation Services

18/08/2022 02:04

** Shares of charter operator Alliance Aviation Services Ltd
 AQZ.AX  slip as much as 6.8% to A$3.310, on track for their
biggest single-day pct loss since Jan. 27
    ** Share moves reflect Australia's competition regulator's
opposition to Qantas Airways'  QAN.AX  proposed purchase of the
remainder of AQZ for A$610.8 mln ($423.96 mln) urn:newsml:reuters.com:*:nL1N2ZT2I1
    ** Regulator says the proposed acquisition raised concerns
around the possibility of lessened competition for domestic air
transport services 
    ** Stock hits lowest since Feb. 4
    ** More than 351.1 mln shares change hands as compared with
the 30-day average volume of ~191.4 mln shares  
    ** AQZ down 13.4% this year as of last close, vs 4.3%
decrease in the benchmark S&P/ASX 200 index  .AXJO  



($1 = 1.4407 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))